Tompkins County Industrial Development Agency

401 E. MLK Jr., Street, Suite 402B, Ithaca, New York 14850 • phone: (607) 273-0005 • fax: (607) 273-8964

Administration provided by TCAD

TOMPKINS COUNTY INDUSTRIAL DEVELOPMENT AGENCY BOARD OF DIRECTORS MEETING

• Thursday, September 8, 2016 •

4:00 – 5:30 PM Legislative Chambers

Governor Daniel D. Tompkins Building 121 E. Court Street, Ithaca NY

AGENDA

1. CALL TO ORDER

2. PRIVILEGE OF THE FLOOR

3. BUSINESS

• Arrowhead/BJ’s PIF Assignment to New Owners - Correction • Cargill Application

4. STAFF REPORT

5. APPROVAL OF MEETING MINUTES – August 11, 2016

6. ADJOURNMENT

Next Meeting: October 13, 2016

Tompkins County Industrial Development Agency

401 East MLK Jr. Street, Suite 402B, Ithaca, New York 14850 • phone: (607) 273-0005 • fax: (607) 273-8964

Administration provided by TCAD Cargill – Community Benefits Overview September 8, 2016 Project Overview The Cayuga Mine in Lansing has been in continuous operation since 1918. The mine produces approximately two million tons of rock salt per year. The Cayuga Mine employs over 200 full-time employees in operations, maintenance, engineering, finance, management, and support positions. Due to the age of the mine, the underground mine workings are currently over 7 miles from the elevator shafts. Because of the distance, providing fresh ventilation air and safe access to surface in the event of an emergency is becoming increasingly difficult. A new ventilation and access shaft is required, or the mine will be shut down and all 200+ jobs lost as the remaining salt reserves could not be safely and productively mined. The #4 Shaft project will be constructed on a 55 acre plot of land owned by Cargill, approximately 5 miles north of the current Cayuga Mine Site. The key objective of the project will be to provide an escapeway 30 minutes closer for the underground miners and the infrastructure and fresh air for an additional 30 years of mining at the Cayuga Mine. The #4 Shaft Project will include a 14’ diameter mine shaft that is 2,500’ deep with a heavy duty mine elevator. This shaft will allow miners to evacuate 30 minutes faster in an emergency and will provide fresh ventilation air to ensure a safe and healthy work environment. The project will also include change room facilities for the miners, an electrical upgrade for the mine, and a small maintenance shop for equipment. Cost-Benefit Analysis • Extent to which project would create and/or retain private sector jobs

The project will retain 200 and create 4 new jobs. Should the project not be undertaken, the mine will close in 8-10 years.

• Estimated value of tax exemption Applicant is requesting a sales tax exemption of $640,000.

• Estimate of private sector investment to be generated by the project - $32,000,000 • Likelihood of completing project in a timely manner

Project is on a timeline to begin in 2017 and be completed in 2020. State permitting and environmental review is currently underway. This is a critical project that without being completed, the mine will close, so it is extremely likely the project will move forward in a timely manner.

Tompkins County Industrial Development Agency

401 East MLK Jr. Street, Suite 402B, Ithaca, New York 14850 • phone: (607) 273-0005 • fax: (607) 273-8964

• Extent to which project would generate additional sources of revenue for local taxing jurisdictions

An independent study in 2015 estimated the following economic benefits to the community: - Town of Lansing: $4.6 Million - Tompkins County: $173 Million - New York State: $221 Million

Tompkins  County  Industrial  Development  Agency  Board  of  Directors  Meeting  Draft  Minutes  

August  11,  2016  Tompkins  County  Legislative  Offices  

121  E.  Court  Street,  Ithaca,  NY   Present: Jim Dennis, Will Burbank, Martha Robertson, Rich John, Grace Chiang Staff Present: Heather McDaniel, Mariette Geldenhuys, Ina Arthur Guests Present: Chris Udy (Ciminelli), Martha Armstrong (TCAD Foundation), Rick

Snyder (TC Finance)  CALL  TO  ORDER    Jim  Dennis  called  the  meeting  of  the  Tompkins  County  Industrial  Development  Agency  to  order  at  4:05  pm    PRIVILEGE  OF  THE  FLOOR    None.    BUSINESS    Cascade  Plaza  LLP  (Seneca  on  the  Commons  –  Hilton  Garden  Inn)  Ownership  Transfer    Jim  Dennis  moved  to  approve  the  resolution  authorizing  execution  of  all  necessary  documentation  in  connection  with  the  conveyance  of  Cascade  Plaza  LLC  to  Pios  Grande  Ithaca  Mixed  Use  LLC.  Martha  Robertson  seconded  the  motion.    Ms.  McDaniel  introduced  Chris  Udy,  Director  of  Finance  for  Ciminelli  (Cascade  Plaza  LLC).    The  current  owner  of  the  property  is  selling  the  building  including  the  hotel  and  office  building.        Ms.  Geldenhuys  commented  that  the  resolution  authorizes  the  new  owner  to  take  over  the  lease/lease  back  Agreement  and  to  assume  any  responsibilities  and  privileges  that  come  with  it  including  the  PILOT  agreement.    Mr.  Udy  commented  that  the  buyer  is  out  of  Philadelphia  PA  and  owns  and  operates  other  hotels.    This  would  be  their  first  mixed  use  building.    Ms.  McDaniel  stated  that  when  this  project  was  approved  in  2005  that  it  was  the  first  “density”  project  in  the  City.    The  PILOT  runs  from  2005  and  2025.    A  vote  was  taken  on  the  motion.  The  motion  passed  5-­‐0.      TCAD  Foundation  –  Food  Business  Incubator  Feasibility  Study  Report  

 Martha  Armstrong  gave  an  overview  and  update  on  the  Food  Business  Incubator  Feasibility  Study  that  was  funded  in  part  by  the  TCIDA.    (See  attached  power  point  presentation)    Mr.  Burbank  asked  what  the  next  steps  are.  The  foundation  (now  known  as  Finger  Lakes  Regional  Prosperity  Network)  will  look  for  funding  from  the  USDA  or  other  philanthropic  sources  to  support  the  needed  outcomes  such  as  a  navigator  for  food  businesses.    Other  deliverables  are  a  peer  network  and  facilitating  access  to  Cornell  research.    STAFF  REPORT    Ms.  McDaniel  reported  on  the  status  of  the  Energy  Focus  Study  –  the  South  Hill  Node  work  has  been  completed  and  the  energy  capacity  draft  is  also  finished.    There  are  still  a  number  of  nodes  that  need  work  done  by  NYSEG  –  she  anticipates  the  study  being  completed  by  the  Fall.    The  Black  Oak  Wind  Farm  has  had  one  landowner  in  Enfield  drop  out  of  the  agreement  –  thus  a  new  site  for  one  of  the  turbines  needed  to  be  found.    A  new  landowner  in  Newfield  was  found  and  thus  a  new  environmental  impact  study  was  begun.    Ms.  McDaniel  stated  that  the  energy  incentive  study  final  draft  should  available  soon.    She  also  stated  that  the  City  of  Ithaca  is  reviewing  the  CIITAP  policy  as  it  relates  to  diversity  and  inclusion.    MINUTES    Will  Burbank  moved  to  approve  the  minutes  from  the  July  14,  2016  Board  meeting.  Martha  Robertson  seconded  the  motion.  The  motion  was  approved  5-­‐0    The  meeting  was  adjourned  at  5:00  pm.